People Power Party: "Disaster Relief Funds Before Election Are 'Vote-Buying Acts'... Funding Source and Payment Method Must Be Disclosed"

Joo Ho-young "Will Distribute Tens of Trillions More Before the Presidential Election"
Kim Jong-eun "Budget Is People's Tax... Must Clarify Recipients and Criteria"

[Asia Economy Reporter Naju-seok] The People Power Party demanded that the government and ruling party disclose specific funding plans and payment methods for the 4th disaster relief fund they are promoting. Criticism that the disaster relief fund, to be paid out ahead of the April 7 by-elections, is a 'vote-buying act' also continued.

[Image source=Yonhap News]

Kim Jong-in, the emergency committee chairman of the People Power Party, said at the party's emergency committee meeting on the 2nd, "Recently, the ruling party and government have been quarreling over the disaster relief fund issue caused by COVID-19, and it was concluded to provide the 4th disaster relief fund," adding, "The 3rd disaster relief fund has not been fully paid yet, and there is no clear plan on what criteria the 4th disaster relief fund will be paid." Kim criticized, "As I have repeatedly emphasized, in April last year, I said it was important to secure a budget of 100 trillion won to respond to COVID-19 in the long term, as COVID-19 would not end in a short period," and "During the budget review process last December, I also mentioned securing the budget for the 3rd disaster relief fund under the assumption that COVID-19 would continue in 2021, but the government showed little interest."

He said, "Suddenly, discussions on the 4th disaster relief fund began ahead of the April 7 by-elections," and emphasized, "Government budgets come from taxes paid by the people, so they must clearly explain how to pay this money most accurately and appropriately, based on what criteria, to which groups, and how much."

Joo Ho-young, the floor leader of the People Power Party, also said, "The supplementary budget scale for the 4th disaster relief fund has ballooned like a snowball," mentioning, "It is expected to reach a record high of 19.5 trillion won in disaster relief funds by issuing as much as 9 trillion won in government bonds." Joo criticized, "National debt has nearly surpassed 1,000 trillion won, and the debt ratio is approaching 47.8%, but President Moon Jae-in and the Democratic Party have no answers on where and how to secure funding, how to repay nearly 1,000 trillion won in government bonds, or how to repay and replenish the treasury even if they release money."

Joo raised his voice, saying, "Ordinary citizens get arrested if they return just 100,000 won during elections, but can we allow the president and the Democratic Party to circulate 20 trillion won in public debt?" He continued, "If this continues, the ruling power will again distribute tens of trillions of won before the presidential election," adding, "This is practically no different from a vote-buying act. The people must take the lead in awakening to this ruling power's vote-buying act that disregards the national treasury."

This content was produced with the assistance of AI translation services.